Are Millennials In Their Mid-Life Crisis?

The term "midlife crisis" conjures images of flashy cars and impulsive decisions. But for Millennials (born roughly between 1981 and 1996), the picture might be quite different. We're not yearning for a return to our youth or trying to prove our life isn't over. No ... we're grappling with a lack of the very foundation that past generations built their lives on.

Amil Niazi, a columnist over at The Cut, recently wrote an essay reflecting on the midlife crisis.

"In the movies and TV I grew up watching, a midlife crisis was born out of a complacent sense of security; life was maybe going too well, and people just wanted a chance to flex their youth one more time. They bought a sports car, pierced something, got a weird tattoo. In the extreme, maybe they ditched their entire old lives and started fresh, did something that their kids are still in therapy about now."

But this is no longer a reality ...

"For most millennials, the old material markers of midlife, like owning a home or spending 20-plus years at one job, are a nostalgic fantasy. Something we miss but never had." Amil continues, "Today, the real crisis isn’t about mortality; it’s that our lives and stations are unchanged from when we were 30 — or, hell, even 20. It’s about a distinct lack of comfort, of resources ... Any single change in our jobs, homes, or health could upend our entire lives in ways that are just financially impossible."

Student loan debt, stagnant wages, and skyrocketing housing costs have made achieving the traditional markers of adulthood – homeownership, career stability – nearly impossible for many.

Amil highlights the struggles of her friends with stories that feel very close to our own (or at least people we know): a laid-off tech worker with an impeccable resume who may need to start from scratch, a creative who sold his house so he could have a small nest egg while looking for more secure employment.

These are not people yearning to relive their youth ... they're people desperately trying to tread water.

Are we all just being lazy?

We've all heard the clichés that define the Millennial generation. Everything from a love of avocado toast to reacting badly to anyone who hasn’t seen all ten seasons of Friends on DVD.

And sure, a large number of us wear low heel toe booties, skinny jeans and a button up blouse with a front tuck, have a hardcore love for Harry Potter or Disney, and are obsessed with Charcuterie. We may even freak out more than we need to when some suggests that we're lazy. But the fact is we don't have the luxury of relaxing and truly enjoy what we have earned because every day feels like we're on the cusp of a true crisis.

The financial anxieties that might have plagued previous generations in their early twenties are a constant companion for us. We work tirelessly, not because we're chasing some glamorous dream, but because we're terrified of the consequences of not working.

The financial strain isn't just about ourselves; it's about our families. We are constantly worrying about caring for our aging parents and young children, a sentiment echoed by Amil and many millennials facing the "sandwich generation" problem.

A difference midlife crisis for a different time

So, are millennials in their midlife crisis? The answer is complex.

We're not experiencing a crisis of boredom or a desire to recapture lost youth. Our crisis is rooted in a very real fear: the fear that this is as good as it gets, and the future holds only more instability.